After SIX MONTHS OF PAINFUL CORRESPONDENCE AND EXTRAORDINARY AMOUNT OF TIME ON THE PHONE attempting to remove my name (release of liability) from a mortgage, CITIBANK has finally denied my request. The property was awarded to my ex-spouse two years ago in a divorce settlement — this included responsibility for payments and ownership. I never knew this debt was still carried on my credit report until I attempted to buy a new home eight months ago.
CITIBANK claims the ONLY way to remove my name from the mortgage is to refinance it. As I discovered, my ex-spouse had also "modified" the loan under a government program to a NEW RATE and TERM from the original contract — all without my knowledge, approval, or signature. Call it what you will but sure sounds like a "re-finance" to me. Even though she has qualified for these new terms on her own accord, I still can't remove my name from the note.
There is no chance she'll do that now with the current arrangement CITIBANK has provided her. I am being held financially accountable (read: hostage) infinitem for something I didn't sign up for and exposed to financial ruin should my ex ever default on the property! This scenario is not unique. I'm searching for an attorney who would like to roll this up into a CLASS ACTION SUIT.
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